Premier Burt Signs MOU With Medici Ventures

May 1, 2018 | 10 Comments

The Premier and Minister of Finance David Burt announced the signing of a Memorandum of Understanding [MOU] with another international company that “will result in the creation of jobs in Bermuda and enhanced educational opportunities for Bermudians.”

The Memorandum was signed by Dr. Patrick Byrne the Founder and CEO of Overstock.com.

“The MOU is with Medici Ventures which was formed to incubate, launch, and invest in blockchain investments in the most fundamental processes of that new aged, such as blockchain-meets-land-titling, blockchain-meets-central-banking, blockchain-meets-capital-markets, blockchain-meets-voting, and blockchain-meets-healthcare,” the Ministry said.

Premier Signs MOU With Medici Ventures April 2018 (1)

The Ministry said, “In signing the MOU, Medici will:

  • “Make Bermuda its laboratory for the most leading edge blockchain innovations coming out of its stable of a dozen blockchain firms;
  • “Create at least thirty [30] jobs in Bermuda over three years;
  • “As soon as practicable, develop an Security Token Trading Platform in Bermuda subject to all required legal and regulatory processes;
  • “Focus its social contribution in Bermuda on nurturing a proper pipeline for creating basic, intermediate, and advanced software development engineers; and
  • “Work collaboratively with the Government of Bermuda and all necessary oversight agencies in the development and improvement of a robust legal and regulatory framework.

Premier Signs MOU With Medici Ventures April 2018 (2)

Premier Burt stated, “On behalf of the Government of Bermuda, I am extremely pleased to sign this MOU which demonstrates that global investors are taking note of what Bermuda is doing.

“We look forward to working with Medici to ensure that the commitments made in this MOU are realized. Bermuda is at the forefront of the fintech industry creating an environment in which Bermudian businesses can thrive, opportunities for Bermudians can be created and in which capable, qualified Bermudians can benefit from opportunities to train, work and succeed at every level.”

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Comments (10)

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  1. Onion says:

    These are all for show.

  2. Joe Bloggs says:

    “Create at least thirty [30] jobs in Bermuda over three years”

    Is that the same 30 jobs we heard about last week (Binance) or 30 more new jobs? 60 new tech based jobs in 3 years would be quite an achievement.

  3. The Original Truth™ says:

    The BSX is real fintech, an ico is just online gambling. Better off playing online pocker.

  4. We're watching. says:

    Keep on, keeping on ,Burt! You’re doing a good job!

    • Jus' Wonderin' says:

      How lmfao…these don’t amount to anything? Just putting lipstick on a pig!

  5. Stevie says:

    Who gets the jobs? Burts crew. Not those who need the work. Another PLP inside job. Pathetic.

  6. Double S says:

    Amazing how some are now overjoyed at trickle down economics. If this was the OBA the response would be ‘this don’t help the small man in the street, this is only for the rich.’

    Absolutely amazing what an election can do to one’s thinking.

    • Earth watch police says:

      What’s with doing business with all these foreigners I thought we were going to kick them out wtf

  7. Me says:

    Just has not realized he is being scammed yet

  8. Pounds Shillings and Pence says:

    More double dutch. 30 jobs IN Bermuda how many for our super duper high flying info computer born and bread bros and sis will get any. your not going to grow basic, intermediate or advanced SDE’s that quickly. How many bitcoins does the govt get for this, not enough to pay of our HARD DOLLAR debt

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